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Cyber Insurance
What if your precious confidential customer data gets hacked? What if your credit card information is no longer a secret, thanks to a fraudulent email that you accidentally clicked on? What if the smart devices that connect you to huge business networks succumb to a malicious attempt?
Personally or professionally, almost everyone uses some kind of cyber technology everyday. Also, no matter what security measures you undertake, cyber attacks will happen! Depending on your technology usage, industry and business, we at SIVANA help you understand the risks you might be exposed to and offer solutions that can help you secure yourself, your business or both! The cost of NOT buying cyber insurance can be devastating. It can not only drain you financially and emotionally but can also cost you your customers, your revenue, your reputation, your dreams!
What will this insurance cover?
For Individuals
Unauthorized online
transactions
Phishing
•Reputational injury
•Identity Theft
•Cyber Bullying
•e-Extortion
For Businesses
First-party expenses
Expenses incurred by the organization to mitigate losses related to a data breach
Incident response costs
•PR services
•Communication with affected stakeholders
•Forensic costs
•Consequential loss
•Data restoration costs
•Business losses & interruptions due to data breach
Third-party expenses
Expenses incurred by the organization to defend liability claims, penalties, fines
Identity theft
•Copyright/trademark infringement
•Privacy invasion
•Reputational Injury
•Legal fees and regulatory fines
•Liability claims
Cyber crime costs
Financial losses resulting directly from a criminal activity
Unauthorized transaction
•Cyber Bullying
•Cyber Extortion
•Malware Intrusion
•Cyber attack
•Ransomware attack
•Social engineering (*not covered by all)
What is NOT covered?
The cyber insurance
does NOT covers the following:
Intentional Loss
•Bodily injury, disease, death or damage to tangible items
•Unauthorized collection of data
•Unsolicited communication
•Immoral or obscene services
Dishonest/Improper conduct
•Future profits lost due to reputational damage
•Decreased valuation
•Upgrades
•Losses incurred before the waiting period ends
Who should buy cyber insurance?
From online banking to e-shopping, from social media browsing to transferring money online, almost every piece of our lives is available on the internet. Any individual or business using electronic communication and/or the internet is exposed to malicious activities and threats. In essence, buying cyber insurance is a good risk mitigation plan for everyone!
It can be challenging to figure out how much coverage you need. Also, cyber insurance
policies vary from insurer to insurer.
Contact us @ for expert guidance!
Did You Know?
Your General Liability Insurance doesn’t protect you in the event of a cyber attack.
There is a hacker attack very 39 seconds.
The global average cost of a data breach is $3.9 million across SMBs.
